$6895 Checks In Pell Grants: Who Is Eligible To Receive?

Pell Grants have gotten a lot of attention in the news since President Joe Biden announced his plan to forgive all student loans.

Under the president's plan, which was announced in August, tens of millions of Americans who took out loans to pay for their education will have up to $10,000 of their debts forgiven.

Also, it cuts student loans by up to $20,000 for people who got a Pell Grant, which is a type of financial aid for low-income families.

The federal Pell Grant program, which started in 1965 and is now a law, is one of the most important ways for college students to get money.

More than 6 million  undergraduate students received financial assistance as a result of the program in the year 2020.

For the 2022-2023 school year, Pell Grants range from a low of $692 to a high of $6,895, depending on how much a student's family is expected to be able to pay towards their education.

If a student is in an accelerated degree program, they may be able to get more financial aid than the maximum allowed each year.

In 2015-2016, more than 90% of people who got Pell Grants came from families earning less than $60,000.

Who Is Eligible 

To be eligible for a Pell Grant, you must fill out the Free Application for Federal Student Aid, or FAFSA. This is something you'll have to do every year you go to college.